EUR/USD Current price: 1.3100

View Live Chart for the EUR/USD

e

FED’s chairman testimony before the Senate is the most imminent risk factor for the EUR/USD that remains choppy in the 1.3050/1.3120 area since mid European morning. Bernanke is not expected to change his usual dovish stance, and will surely avoid discussing QE exit, which will put some pressure on the greenback later today. As for the EUR/USD short term technical readings, the hourly chart shows price finding sellers around the top of the range, and a persisting downside momentum: indicators had already corrected extreme oversold readings, although maintaining the bearish tone. In the 4 hours chart, the picture is quite the same, and the downside remains favored as long as 1.3140/50 area caps any attempt of recovery. 

Support levels: 1.3035 1.2990 1.2950

Resistance levels: 1.3120 1.3150 1.3185

GBP/USD Current price: 1.5170

View Live Chart for the GBP/USD (select the currency)

g

The GBP/USD stands unchanged in the day, holding a neutral stance with US opening. The hourly chart shows a shy bearish tone, with indicators aiming lower below their midlines and price below 20 SMA, although price holds above 1.5120 short term static support. In the 4 hours chart, 20 SMA keeps capping the upside, although it has lost its bearish slope and now stands flat in the 1.5200 area, while indicators head south below their midlines. While the dominant trend is still bearish, price needs to break below mentioned level to be able to resume the fall. Intraday advances are still seen as selling opportunities, up to 1.5300 area.

Support levels: 1.5120 1.5070 1.5030 

Resistance levels: 1.5210 1.5265 1.5300

USD/JPY Current price: 91.98

View Live Chart for the USD/JPY (select the currency)

y

The USD/JPY surged after yesterday’s sell off, yet this time, the pair found sellers in the 92.80 region, turned now into a key resistance level. The hourly chart shows an increasing bearish potential as 100 SMA crossed below 200 one, and both gain bearish slope above current price, while indicators hold in negative territory. In the 4 hours chart technical readings are strongly bearish, while a small symmetrical triangle is developing: lose of the 91.80 support converging with the short term ascendant trend line should lead to renewed selling interest in the pair.

Support levels: 91.80 91.40 91.00

Resistance levels: 92.20 92.70 93.10 

AUD/USD: Current price: 1.0260

View Live Chart for the AUD/USD (select the currency)

a

The AUD/USD gains bearish tone as the day goes by, having been as low as 1.0233 so far today. The hourly hart shows price now capped by 1.0260static resistance, with 20 SMA heading lower around that level, and indicators standing in negative territory. Market players however are reluctant to push the pair lower ahead of US news. The 4 hours chart also presents a strong bearish tone, and a break below 1.0220 is now required to confirm the downward continuation.

Support levels:  1.0220 1.0180 1.0150

Resistance levels: 1.0260 1.0300 1.0330 

New to Forex? Visit our  Glossary!